Whether you are putting together your own Will or standing to receive assets left to you by someone else, you may wonder what the actual difference is between a beneficiary vs an heir. Some people may use the terms interchangeably, however, heirs and beneficiaries are not the same thing. Not all heirs are beneficiaries, and…
Creating a childrens trust does not mean you are creating irresponsible teenagers, driving fancy cars, and vacationing in Caan for the weekend. You may be picturing the old-school version of a “trust fund kid”. Don’t worry, I was too. But childrens Trusts are not just for the wealthy anymore. It’s a smart estate planning tool…
In December 2018, the Social Security Administration (SSA) had a nasty surprise for Laura Marshall (not her real name), a 74-year-old woman just scraping by in senior citizen housing in New York City’s Harlem neighborhood. The agency demanded that she repay more than $10,000 in benefits, claiming that she owned two properties — one in…
As a soon-to-be parent, you want to make sure that your little human is completely taken care of, from the minute you hear that first cry. The preparations begin months before the arrival of your bundle of joy, and the internet is full of all kinds of advice for parents, checklists, to-dos, tips & tricks,…
If you’ve never purchased a property, you may not know what I’m talking about. Both Joint Tenancy with right of survivorship and tenants-in-common dictate how a property is owned and who inherits it when one or more of the owners passes away. In Connecticut, tenancy in common is the default interest for a deed with…
Today’s video talks about the language of a statutory power of attorney document and the limitations it has when it comes “self dealing”. Essentially, your Power of attorney may not have the ability to transfer assets to themselves. This becomes a problem when you have a couple who are each other’s POAs. I hope this…
